Stressed Asset Dilemma: PNB's Q1FY17 net profit declines by 57%

The net interest income (NII) was around Rs 3699 crore, recorded drop of 9.83% yoy but rose 33.64% qoq (quarter-on-quarter). While total income for the bank stood at Rs 13,930 crore, increasing by 3.70% yoy and 4.92% qoq.

The gross NPA (non-performing asset) stood at 13.75% in June quarter. Photo: Zeebiz

State-owned Punjab National Bank reported net profit of Rs 306.36 crore for the June quarter ended, registering decline of 57.49% yoy (year-on-year). However, this net profit was better than net loss of Rs 5367.14 crore reported in the preceding quarter.

The net interest income (NII) was around Rs 3699 crore, recorded drop of 9.83% yoy but rose 33.64% qoq (quarter-on-quarter). While total income for the bank stood at Rs 13,930 crore, increasing by 3.70% yoy and 4.92% qoq.

Provisions and contingencies were a mixed bag during this quarter. The provisions stood at Rs 2736.38 crore, up by 51.06% yoy but down by 73.90% qoq.